Biotech firms may benefit from international collaboration in their quest for competition and investors from outside of Denmark want to invest in promising firms researching useful products. Knowledge networks are essential for the development of products based on leading-edge research in biotechnology because talent is not exclusive to any single country. United States, Sweden and the United Kingdom are the leading foreign investors in Denmark, focusing on financial intermediation and business services, telecommunications, information technology, biotechnology, oil exploration, trade and financial services (Datamonitor, 2010a, Pp. 50 – 53). Thus, a motivation exists for biotechnology firms in Denmark to try to benefit from internationalisation, and it makes sense to examine the key drivers, motivators and benefits that Danish biotechnology firms seek for their internationalisation ambitions.
The business of biotechnology is like no other business because, in addition to all the same risks that businesses face, there are significant additional risks not shared with any other business endeavour, together with a requirement for enormous amounts of money to get a product developed (Shimasaki, 2009, Pp. 1 – 10). This research proposal describes a research project that aims to investigate the internationalisation ambitions of selected Danish biotechnology firms, including the nature of desired internationalisation, considerations involved with deciding about internationalisation, collaborative arrangements, desired benefits and motivators/strategy for internationalisation.
The proposed research project should present new insights into the commercialization of biotechnology, strategy for biotechnology and the business of biotechnology in Denmark to interest all those with an interest in entrepreneurship, innovation, international business, biotechnology and public policy for biotechnology.
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